land- rent
labour- wages
capital- interests
organisation- profit
land labor capital entrepreneur
The remuneration of the four factors of production; land, labour, capital and enterprise are respectively, rent, wages, interest and profit.
FACTORS OF PRODUCTIONREWARDEXAMPLECapitalInterestMachinery, equipment, buildingsEntrepreneurshipProfitBusiness owner, factory ownerLandRentMineral deposits, soil, timber, water, land itselfLabourSalaries and WagesFarmworkers, miners, artisans, technicians
Factors of production
The most important resources or factors of production in economics (with their respective factor rewards in parentheses) are: Land (rent); Labour (wages); Capital (interest); Entrepreneurship (profit). These factors, combined with management and economic risk taking, combine with other factors (specific to the industry) to produce output.
Factors of production are the inputs for the production process. Three basic factors of production are land, labor, capital and entrepreneurship.
There or not! ex: rewards, support, encouragment,
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The Financial Reward is called Profit
Factors of production are the resources used in producing goods and services. The three factors of production are land, capital and labor.